Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1887-12-14

pany may call for and receive bonds of
your company as fast as they complete
sections Of ten miles OF road, but the
Fort Worth and Denver City Railway
Company psys interest only upon bonds
issued upon road which 1t has accepted
and used. commercially, for three
months. Under this contract the interest
charges to be paid by the railway COM
pany for the year 1887 are upon about
81 100000 of bonds, portion OF which
remain in the treasury of the company,
the proceeds of which may be used for
betterments or the purchase OF additional
equipment.
The issue of bonds upon the road of
your company has been reduced from
S25, 900 per mile to $4,000 per mile upon
25S miles of road, making the total
bonded debt Of the company, upon it's
entire line of road, when completed, from
Fort Worth to the Tex,s state line S.
156. 900, bling an average CT $4,000 pr
mile, which amount cannot be increased,
either upon main line or branches.
The Denver, Texas and Fort Worth
Railroad Company Is building its line
trum Trinidad, Col, to connect with your
road at the state line Of Tex,s, end this
connection will be made sometime during
February, 1888. Agreements have been
made by your company With the Denver,
Texas and Fort Worth Railroad Com
pany and the Denver, Texas and CUT
Railroad Company, by which the three
roads will be operated as through line,
under one management, between Fort
Worth and Denver.
Your road occupies q commanding
position, geographically and commercially,
in relation to the best agricultural portion
If Texas, the Indian Territory, New
Mexico, Colorado, and the northwestern
states. It will have for its support,
when completed, in addition to It's Own
productive territory, good portion of
Local territory Of the east and west con-
Meeting lines, by bringing to their service
the most direct and shortest road to the
seaboard. For European business, it
places oil OF that vast territory, so rich in
mineral production, relatively as near
tidewater as the middle trade-centers
which are now supplying its require
ments, but are doing so With the extra
burden OF from 1000 to 1900 miles excess
CT rail haul IS compared With your line. ,
The same is true respecting business be-
tween the territory available to this road,
ard New York and other eastern com
mercial centers, except that, with your
line, there are far legs intermediate con-
tending forces, considering existing laws.
Among the important resources of your
road, are the coal fields Of Southern
Colorado, from which all that portion OF
Texas and New Mt xco trayersed by this
road, end considerable portion of the
Indian Territory must receive its coal
supply, and from which will be drawn q
great portion Of the coal supply fer Dem
yer snd adjacent territory, including that
for some of the trunk lines entering Dem
yer from the east.
The pineries of Eastern Texas will, by
your road, furnish the most available
supply Of lumber for Northwestern Texas,
part Of the Indian Territory, New Mexico
and Colorado; and this will prove fruit
full source of revenue, thus making bust
ness to be handled by your cars ia both
directions.
The history of your rosd, with regard
to It's earning capacity IS short local
road in Texas, having no through bust
ness, cannot be taken as q criterion for
its revenue earning power as trunk line
making important through connections,
and even changing entirely the relation
OF what is probably the richest pro-
ducing portion of the United States to
lidewater.
The agricultural resources Of the ter
ritory tributary to your road, and the low
price at which land may be purchased,
present to the emigrant great induce
ments. The soil is deep and fertile, and
Is well adapted to the culture of small
grain. Water is obtained anywhere by
sinking for it, and running streams sre
not irffequent. The climate is regular
an salubrious. Settlers are gradually
coming in, and the indications are thst
there will be large increase Of settle
ment from now on; and in 8 very few
years this entire region will, We believe,
be thickly settled and cultivated. Re-
specially submitted,
MORGAN JONES, President.
Later in the day the stockholders met,
6l,ss34shares out Of the Ga, 400 being rep
resented. j. T. Grsueer,IIessurer Of the
company, had come from New York to be
present st the meeting and represented
the majority Of the stockholders
President jones' report gave en-
tire satisfaction and the stockholders
expressed their thanks to the directors
for the able management OF the roads
affairs. They elected the following d.
rectors to serve for the ensuing year; T.
W. Pesrsall. 4 J. Mayer and J. T. Gran
ger of New York, W. r. Walters of Bslti-
more, and j. P. Smith, Morgan Jones
W. f. Sommerville, w M. Harrison and
J M. Brown of Fort Worth. The direc-
tors above named met and elected Colonel
Morgan Jones, president; T. W. Pearsal,
vice-president; W. A. Ross, secretary,
and J. T. Granger, treasurer. A number
If officials OF the road took special
train in the evening for trip over the
road.
Home Notes.
The east bound Texas and Pacific was
ten hours late last night. A special was